Allocating wages in bank feed
Still trying to allocate last Thursdays wages in the bank feed. It does not give me any matches. Nothing comes up when I search employee name . Someone suggested I change payment type to cheque thi...
Forum Discussion
Hi JOSIE
Typically, to match a bank transaction you would go to Banking>>Bank transactions>>Navigate to the required bank transaction (select the dropdown arrow to expand the transaction). From there you can select the Match transaction option, update the filters (if necessary) and tick the appropriate transactions (or enter in the required amounts).
If the transaction is not listed, my recommendation is to ensure that the following conditions of the original transaction are correct so that a match is possible:
- The transaction has the same Pay from account as the account the bank transaction has come in on
- The transaction has the same or similar date and amount to that of the bank transaction
- The transaction is not ticked or already reconciled in the Reconcile accounts window
Should one of the above not be true then you would not be able to match to that transaction.
So in your case, you mentioned a payroll transaction you are trying to match to. My advice is to go and have a look at the pay from account you'll probably find it has a different account listed (a common situation). Once have identified if that is the case you can work from there in moving that to the correct account and thus ultimately making those conditions true and thus matching that transaction.
Checked my bank reconsiliation and out of the 12 pays processed on the 1st 5 have been automatically reconsiled.
7 have not been reconsiled. These were all in the one payrun. Only 7 left in my bank feed to be allocated. Quite a bit confusing. This has cost me so many hours of my own time now. I can not even do my job anymore with
this upgrade. This problem along with the other 20 problems I am trying to sort out. THE STRESS .
So how do I get the payments off my bank feed and allocated now now?
Hi JOSIE
If pay transactions are appearing in the Prepare electronic payments window it means the Payment method in the employee card is set as Electronic. This posts the net amount to the electronic clearing account instead of the bank account to allow you to create a bank file for bulk payment.
You will need to process the Prepare electronic payment and match the electronic payment transaction to the bank feed transaction.
These Help Articles have detailed information:
Why are employee pays missing in bank reconciliation
When setting up electronic payments, the Bank code is the 3 letter code for your bank, ie, NAB, ANZ, CBA.
Please let us know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Looking further into it the 7 staff in my bank feed that I can not allocate they are sitting in Prepare electronic payments. As I said 5 have been automatically reconsiled out of 12 staff from same payrun.
I tried to set this electronic bank thing up but failed as even putting Company name in the 18 charactors for our name it would not let me go past 5. Also would not let me put the whole bank code in that I rang bank for
only part of it. So I gave up. How do I get them out of this section? Having a nightmare here . Thank you
